FOREX ALERTS >>
DailyFX Plus Login

technical alert

Article

Forex Trading Signals Forecast US Dollar/Japanese Yen Declines
Wednesday, 17 September 2008 22:07:42 GMT  |  David Rodriguez, Quantitative Analyst
Delicious
Facebook

Our Forex Trading Signals forecast that the Japanese Yen will continue to appreciate against the US dollar, as our “Breakout” forex trading strategy has sold the USDJPY. This trade is overall consistent with the recent trend in the US Dollar/Japanese Yen pair, as the JPY has appreciated sharply against major counterparts on clear financial market distress. Indeed, we see that US Treasury Bill Yields hit their lowest level in over 50 years—emphasizing the level of risk aversion in global trading markets.

Japanese Yen Forex Trading Signal

USDJPY_2008-09-17

Our technical forecasts for the Japanese Yen shows expectations of further Yen strength, and we likewise see that forex positioning signals likely USDJPY losses. Our discretionary bias lines up with our system trading signals forecast, and the only remaining question is whether the USDJPY is ripe for a very-short-term decline.
Keep track of this USDJPY signal and others on our Forex Buy/Sell Signals on DailyFX+ and be sure to monitor any updates, as our automated forex signals can and do change on a daily and intraday basis.
For more information and guides on using our DailyFX Buy/Sell Signals, see our Weekly Forex Trading Strategy Outlook report.

More Articles

Feedback Form